OCI Holdings is experiencing a strong early trading session, rising over 7% amid expectations of benefiting from the U.S. government's strengthened tariffs on solar products.
As of 10:33 a.m. on October 21, OCI Holdings shares were trading at 216,000 won, up 7.46% (15,000 won) from the previous trading day.
The increase is attributed to expectations that OCI Holdings, which has secured a non-Chinese supply chain, will benefit as the U.S. moves to block circumvention of tariffs on solar products from China.
The U.S. International Trade Commission (USITC) recently finalized the imposition of anti-dumping and countervailing duties on crystalline silicon solar cells and modules from India, Indonesia, and Laos. The tariff rates range from approximately 147% to as high as 268%, depending on the company and the specific ruling.
Notably, the U.S. has recognized an 'emergency situation' regarding Indonesia, allowing for retroactive application of tariffs. This means that tariffs will also apply to solar products that entered the U.S. prior to the imposition of the duties.
Recently, the U.S. has been pushing for the introduction of minimum import prices and tariffs on polysilicon and related products, further tightening regulations on solar products from China.
As a result, domestic companies with non-Chinese solar supply chains are increasingly expected to benefit. OCI Holdings, through its Malaysian subsidiary OCI TerraSus, produces polysilicon and is being highlighted as a beneficiary of the growing demand for alternatives to Chinese products.
* This article has been translated by AI.
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